Retailers Welcome Bipartisan Legislation to Address Tax Bill Typo

The National Retail Federation welcomed bipartisan legislation introduced in the Senate today that would fix a drafting error in the tax reform law that took effect in 2018. The error relating to depreciation rules is delaying job-creating investments in stores and restaurants across the country.

“It’s hard to imagine that an unintended typo in a tax law has created so much uncertainty, but that’s exactly what many American retailers have been dealing with for over a year now,” NRF Senior Vice President for Government Relations David French said. “This error might seem small, but it’s having a large impact on companies that have been forced to delay or cancel improvement projects to stores and restaurants, costing new jobs as a result. Congress has allowed this issue and ...

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